GUVNL Invites Bids For 800MW Solar Projects With Greenshoe Option

Gujarat Urja Vikas Nigam (GUVNL) has invited bids for the purchase of power through a competitive bidding process (followed by reverse e-auction) from the 800 Megawatt (MW) Grid-Connected Solar Photovoltaic Power Projects to be set up in Gujarat State Electricity Corporation Ltd’s Solar Park at Khavda (GSECL Stage 2) with a Greenshoe option of additional capacity up to 800 MW.

The last date to bid is June 15, 2023, and bids will be opened on June 23, 2023. The processing fee has been kept by GUVNL at Rs 3 lakhs plus 18% GST. The tender says that Earnest Money at the rate of Rs. 4 Lakh per MW is to be submitted in the form of a bank guarantee.

The bidders selected by GUVNL shall set up Solar Power Projects in Khavda Solar Park on Build Own and Operate (BOD) basis in accordance with the provisions of the tender and standard Power Purchase Agreement (PPA).

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GUVNL said that each bidder should be allowed to place a bid for a minimum 100 MW capacity and in multiples of 100 MW only. With regards to the bid capacity and methodology employed for the allocation of plots in the solar park, the GUVNL tender document says that total of 16 plots are earmarked for allotment, and each plot is 100 MW.

The tender says that GUVNL may decide to enter into PPA with successful bidders for a period of 25 years from the scheduled commercial operation date of the project. The successful bidders shall also enter into the “Implementation & Support Agreement” (ISA) and “Lease Agreement” (LA) with the Solar Power Park Developer (SPPD).

The Projects selected under the GUVNL tender shall deploy solar PV technology. However, the selection of projects would be technology agnostic within the technology mentioned in the tender. Crystalline silicon or thin-film etc., with or without trackers, can be installed.

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The tender says that only commercially established and operational technologies can be used to minimize the technology risk and to achieve the timely commissioning of the Projects.

GUVNL’s last solar tender floated in February this year for the supply of power from 500 MW of grid-connected solar projects was secured by ReNew Power, Solarcraft Power, Mahindra Susten, and Avaada Energy.